The yen rose sharply yesterday against the dollar, reaching the highest since World War II, and today it resumed its incline on fears the central bank will delay its intervention in the currency markets due to the deepening nuclear crisis, giving the yen addition space to gain strength.

The euro rose today against the dollar trading around 1.3970 after recording the highest at 1.3976 and the lowest at 1.3875. The pair faces a resistance at 1.4030. The daily momentum indicators show the pair in an overbought area, while the four hours momentum indicators show the pair in an oversold area.

The pound rose today against the dollar trading around 1.6076 after recording the highest at 1.6080 and the lowest at 1.5981. The pair faces a resistance at 1.6120. The daily and four hours momentum indicators show the pair close to an oversold area.

The dollar/yen pair was very volatile today starting the day with an incline in order to compensate some of the sharp gains made yesterday, but then it resumed its decline, reaching the level 79.06 level, recording the highest at 79.72 and the lowest at 78.59. The pair faces a support at 78.60. The daily and four hours momentum indicators show the pair in an oversold area, yet the chances for a further decline remain strong.